Q:

How do you interpret neighborhood demographic reports?

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Quick Answer

Neighborhood demographic reports are statistical breakdowns by categories that include crime rate, income levels, household distribution, means of transportation, population by citizenship and birthplace, education level, age, race and gender. Business owners and those looking to relocate may research potential markets and identify key factors using Census Bureau information.

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Full Answer

Other information provided by the reports outline where residents of specific areas spend income, comparing details about the amount spent on social and exercise clubs, consumer goods and charities with nationwide averages.

Neighborhood demographic reports cover information about homes for sale, those already sold, and the percentage of people who own and rent their accommodations. Other important factors for homeowners include languages spoken, the most-used forms of transportation and the median household income of a region.

Businesses and government organizations use the compiled information to understand consumers' lifestyles, attitudes, spending, and social habits and to identify the needs of specific communities. Companies, such as Acorn in the United Kingdom, analyze data from national statistics and create reports divided into six categories, 18 groups and 62 types. These include comfortable communities, affluent achievers, financially stretched, urban adversity and a section for non-private households. Acorn’s specialist reports focus on health, retail and recreational activities of designated areas.

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